S T A T E O F N E W Y O R K
________________________________________________________________________
5018
2023-2024 Regular Sessions
I N A S S E M B L Y
February 27, 2023
___________
Introduced by M. of A. MAMDANI -- Multi-Sponsored by -- M. of A.
CARROLL, FORREST, GALLAGHER, MITAYNES, RAGA, SEAWRIGHT, SEPTIMO,
SHRESTHA, SIMONE -- read once and referred to the Committee on Corpo-
rations, Authorities and Commissions
AN ACT to amend the general municipal law, in relation to adjusting
value capture mechanisms for New York city and the metropolitan trans-
portation authority, including transparency requirements; and to amend
part PP of chapter 54 of the laws of 2016, amending the general munic-
ipal law relating to the New York transit authority and the metropol-
itan transportation authority, in relation to making such value
capture mechanisms and transparency requirements permanent
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph f of subdivision 1 of section 119-r of the gener-
al municipal law, as amended by section 2 of part PP of chapter 54 of
the laws of 2016, is amended to read as follows:
f. The making of a contract with the metropolitan transportation
authority, by itself or with one or more other municipal corporations to
assist the authority in meeting its capital or operating expenses in
providing mass transportation services of benefit to all or part of such
municipal corporation, including undertaking a mass transportation capi-
tal project in or near the municipal corporation. Such a municipal
corporation may, according to the terms of the contract with the author-
ity, establish, levy and collect taxes, assessments, and/or charges and
may conditionally or unconditionally grant or pledge a portion of its
revenues allocated according to subdivision e of this section. Such
municipal corporation may designate mass transportation capital project
districts that a municipal corporation finds, after conducting a public
hearing, will benefit from an identified mass transportation capital
project.
(I) (1) AT LEAST TWO WEEKS PRIOR TO CONDUCTING SUCH PUBLIC HEARING
UNDER THIS SUBDIVISION, THE MUNICIPAL CORPORATION SHALL PRODUCE AND
PUBLISH ON ITS WEBSITE TWO SEPARATE ANALYSES THAT INCLUDE: (A) REVENUE
PROJECTIONS FOR THE DISTRICT BASED ON HISTORIC PROPERTY TAX DATA AND
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05069-02-3
A. 5018 2
ANALYSIS THAT THE FAIR MARKET VALUE OF PROPERTIES WITHIN THE SUBDISTRICT
IS EXPECTED TO INCREASE AS A RESULT OF THE IMPROVEMENT, BY MORE THAN
WOULD HAVE OCCURRED IN THE ABSENCE OF SUCH IMPROVEMENT; AND (B) TRANS-
PORTATION ENGINEERING ANALYSIS SHOWING HOW THE PUBLIC WOULD BE SERVED BY
THE MASS TRANSPORTATION CAPITAL PROJECT IN SUCH DISTRICT OR AREA.
(2) SUCH ANALYSES UNDER CLAUSE ONE OF THIS SUBPARAGRAPH SHALL INCLUDE
ACCOMPANYING DATA IN A MACHINE-READABLE, TABULAR FORMAT, AND AN EXPLANA-
TION OF THE METHODOLOGY AND SPECIFIC ASSUMPTIONS USED IN EACH ANALYSIS.
THE PUBLIC SHALL HAVE THE OPPORTUNITY TO SUBMIT WRITTEN COMMENTS ON SUCH
ANALYSES PROVIDED, AND THE MUNICIPAL CORPORATION AND/OR THE METROPOLITAN
TRANSPORTATION AUTHORITY SHALL RESPOND TO PUBLIC COMMENT RECEIVED IN
WRITING AND AT SUCH PUBLIC HEARING IN A REPORT THAT IS POSTED IN THE
MUNICIPAL CORPORATION'S WEBSITE NO LATER THAN ONE MONTH AFTER SUCH HEAR-
ING.
(II) Upon designating [such] a MASS TRANSPORTATION CAPITAL PROJECT
district, the municipal corporation may allocate a portion of its reven-
ues from the district according to terms it designs or has agreed to by
contract. The municipal corporation may, in allocating and collecting
revenues from the district, make use of one or more methods to capture
the value created by a mass transportation capital project, including,
but not limited to:
[(i) tax increment financing, meaning the allocation of an increment
of property tax revenues in excess of the amount levied at the time
prior to planning of a mass transportation capital project;
(ii)] (1) a special transportation assessment imposed upon benefited
real property in proportion to the benefit received by such property
from a mass transportation capital project, which shall not constitute a
tax;
[(iii)] (2) land value taxation, meaning the allocation of an incre-
ment of tax revenues gained from levying taxes on the assessed value of
taxable land at a higher rate than the improvements, as defined in
subdivision twelve of section one hundred two of the real property tax
law; and
[(iv)] (3) some combination of the above or other methods of gaining
revenues that the municipal corporation is empowered to use, provided
that the total amount of all taxes, assessments, fees, charges, or rates
levied on each parcel or lot under this section shall be limited to a
proportionate amount as near as possible to the actual benefit which
each lot or parcel will derive from the mass transportation capital
project; and
[(v)] (4) for purposes of this paragraph the term municipal corpo-
ration shall include only those cities, towns, villages and counties
described in section twelve hundred sixty-two of the public authorities
law.
§ 2. Section 3 of part PP of chapter 54 of the laws of 2016, amending
the general municipal law relating to the New York transit authority and
the metropolitan transportation authority, as amended by section 1 of
part J of chapter 58 of the laws of 2022, is amended to read as follows:
§ 3. This act shall take effect immediately[; provided that the amend-
ments to subdivision 1 of section 119-r of the general municipal law
made by section two of this act shall expire and be deemed repealed
April 1, 2023, and provided further that such repeal shall not affect
the validity or duration of any contract entered into before that date
pursuant to paragraph f of such subdivision].
§ 3. This act shall take effect immediately.